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20121201
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Search Results 0 to 12 of about 13 (some duplicates have been removed)
like to the rest of the world, particularly europe where eurozone are taking drastic budget cuts and austerity measures that make our situation look tame. chris just returned from a trip to europe's capitals, including athens, and shares his experience of the complete devastation in greece currently dealing with. jared bernstein, storm former economic adviser. we don't know what the risks are of what might happen january 1st. there's a risk it could be horrible. that's all i'm saying. tell me what you saw in athens n greece when you were just there. >> i've traveled to greece quite a bit over the last few years for political work i've done there in the past. i don't know how to express it any more clearly than it was unbelievably sad and depressing. i mean, the country is in a great depression. unemployment is about 25%. unemployment among youths is about 55%. the economy contracted by 7.2% in the last quarter. those are numbers. i'll tell what you i saw which i think is more powerful. you go through different parts of greece, the greek stores closed everywhere. you go down near
on the bloody battlefields in europe. and came back the most decorated and exercised something that was very important. they did it for their family certainly, but for the greater good because they loved america. they sacrificed themselves and many many perished on those fields and that is the kind of situation we are faced with now and those republicans can't seem to get it. they are so bull headedly when theed to their philosophy. we need to raise taxes to meet the crisis. and they would rather plunge down that cliff and plunge us into another economic catastrophe because the sequester is going to cancel the military contracts that we have and that means unemployment for many many years ahead. and all it takes is everybody rallying together and sacrificing a tiny bit. during what we enjoyed during the clinton jeers. lots of jobs being created. and cutting taxes creating jobs has never been proved to be true. with the middle class maintaining the tax cuts, they are going to be spending money and creating jobs. retail sale s going to go up. to me, it is baffling that the republican ares don'
. then you get to -- they want to extend it to europe, other countries we can travel, so people in this country can travel to those countries knowing they're not going to be handicapped any more than they are by facilities. why would a republican vote against such a deal? you first and then john. >> there's a lot of pressure from the right on this. there's the paranoia from the u.n. >> explain it. >> the notion that the u.n. is going to come in and tell us what to do. the fact of the matter is this treaty raises the world to the standard of the u.s. doesn't require the u.s. to change its standards at all and doesn't in any way give the u.n. power to do anything in this country. but i think it's -- all you have to do is say u.n. and people on the right get very exorcised. rick santorum helped lead the opposition to this treaty. i think he's out of step with the american people, out of step, by the way, on this tax cuts for the rich stuff. you know, bobby jindal said today, and i thought it was remarkable, we're in danger of becoming the party that defends the rich, anti-medicare,
of america's credit rating. >> stocks plummeted overnight in asia, europe is following suit this morning, as fear dominates wall street. now the focus turns to the fed, and investors are hoping for some good news later today, after suffering the worst day in two years. >> credit rating agency basically said, we no longer have faith in you, the united states government, because we no longer believe your political system is capable of basic competence. the basic competence necessary to pay your bills. that republican-made, self-inflicted crisis and the resolution to it created this current man-made self-inflicted crisis that we're in right now. one we're lamely calling the fiscal cliff. the way republicans in congress and the president solved the debt ceiling crisis was to build this cliff, that we're now supposedly dangling off of. they invented this deadline we're up against. the debt ceiling fight was a disaster, and now republicans, surprise, want to have that fight again. "the new york times" reports that one idea bouncing around the right side of the aisle is this. the republicans wi
this morning as we've seen. some of that has to do more with europe than it does with washington. but what is your reasoning for why wall street hasn't displayed more of an impact from this fiscal cliff nonsense? >> thomas, what wall street hates most of all is uncertainty and it's counterintuitive, there's actually plenty of certainty now. what's going to be certain is taxes are going up. either we go off the cliff or the curb and then taxes rise for everybody and then maybe they get repealed for the middle class and others or we reach a deal and taxes go up for the wealthiest 2% and everybody else breathes a sigh of relief. there's some $2 trillion in cash sitting on the balance sheets of corporate america waiting to be put to work. the reason it hasn't been put to work is because of uncertainty. taxes are going to go up, the deficit is going to be reduced, some of that money is going to be released. just like ed schultz said, this is all very good news for the american economy. >> so basically the uncertainty is what's providing the certainty moving forward because people across the cou
. they just came out with the 2013 growth forecast for europe, an economy slightly bigger than the united states. they went from a plus 0.3% growth rate to minus 0.5%. the cbo said our underlying growth rate, all other things constant, our underlying growth rate has halved over the past decade from 4% to 2%. we're in a serious global growth compression period, and we need to pivot both in the united states and around the world to pro-growth reflationary strategies. >> jay, you reference that report, which i was looking at as well. what is the underlying growth rate, what does that mean exactly, and what can we do to bring it back up to the 4% where it was? >> essentially it means that the dynamics of the economy, the demographics, the productivity growth rate, the key things that drive economic growth are such that we have a 2% growth path in front of us in part because when you think about the '90s -- i know that was discussed earlier in the show -- we had a much bet demographic, kind the baby boomer bulge coming through. that boosted our potential growth rate. here we're on the other si
in europe and things happening in other countries, to make the united states a place where people feel they can do business, we should take out this brinkmanship for their political games. there was an election on these issues. there was an election on rates. the president was clear on raising the rate and he won. democrats expanded in the senate. it's not like this is a new debate. >> we talk about how the business community was at odds with the campaign. in terms of preventing a debt ceiling showdown, it may be his ally. >> a former health care adviser to the romney campaign, david k. johnston and joan walsh thanks for joining us. >> understanding the tragedy might be impossible. why dry? after this. twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which i
's europe, and they're blaming the fact that their economies aren't going based on the fact that we're in this stalemate. you know, it's huge. >> harold, i mean, it all comes down to leadership. you know, when you talk to business owners, they want leadership shown. i'm glad the president is talking to business leaders now. >> and a debater on the phone. >> not only the administration but also on the other side of pennsylvania avenue with the republicans and harry reid in the senate. you're just not seeing it. >> you don't see enough of it. curiously, the markets -- investors are actually increasing their exposure which is kind of contrarian to your point. i do believe to julia's point, you'll see a receding or retreat in that attitude over the next several days and few week ifs we can't get ourselves closer. i remain optimistic. the president wants a legacy and his legacy depends on this. and two proposals have been put forth. they resemble each other in terms of the amount they've asked for. i give republicans credit. they understand revenue has to be part of the deal. the questio
Search Results 0 to 12 of about 13 (some duplicates have been removed)

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